The Citizens Bank Named A Top Bank In Nation
Friday, May 28th, 2010Contact:
Jackie Hester, VP, Marketing Officer
The Citizen’s Bank
601.389.3333
The Citizens Bank Named A Top Bank In Nation
PHILADELPHIA - In documents released earlier this week, The Citizens Bank was named a Top 200 Bank in
the United States by U.S. BankerMagazine. The rating was based on the past three years’ average Return On Equity,
an industry standard which measures an institutions ability to create profitability based on its corporate net worth.
The Citizens Bank was the top-rated bank inMississippi, coming in at number 99 nationally. The performance review
included all community banks and thrift institutions in the nation.
U.S. Banker’sEditor-In-Chief Alan Kline, who summarized the findings, noted “a couple of years ago, a threeyear
average return on equity of 10 percent would have been seen as subpar. By today’s standards, though, a 10 percent
ROE is more than respectable.” The article detailed The Citizens Bank’s performance by reflecting a three-year
return on average equity exceeding 10.5 percent. The bank manages more than $840 million in total assets and generated
more than $7 million in net income for the year concluding December 31, 2009.
“We consider it an honor to be named in the Top 100 community banks in America,” said GregMcKee, President
and CEO of Citizens Bank. “But of greater importance in today’s economy, it’s important for our customers to take
great confidence in our bank and the manner in which we operate.” In addition to The Citizens Bank’s rating in U.S.
Banker, it is also rated a 5-Star Bank by Bauer Financial Services, a leading bank ratings firm located in Coral Gables,
Florida. Bauer Financial pores through the financial reports of all banks across the country, with only a small percentage
earning its highest 5-Star rating, placing these elite banks among the strongest, most secure banks in the United
States.
“We take fiscal integrity very seriously,” McKee explained. “The economic problems facing our nation began as
the isolated problems of a few Wall Street institutions, but the trickle-down effect touched the lives of virtually all
families and businesses from coast to coast, but we have continued to maintain time-honored principles in our lending efforts, and as a result we’ve weathered the storm in a strong and secure way.”
“We have been affected to the degree that our customers have been affected, certainly,” he continued. “But our
guiding mission is to provide each person who relies on us with a bank that is financially strong and safe. Being
named a Top 100 bank in America is a testament to that, and we’re grateful to our customers for the opportunity to
have earned this recognition.”
The next-highest Mississippi-based bank named in the list was Merchants & Marines Bancorp, Inc., of
Pascagoula, which came in at number 109 of the Top 200. The entire list of the Top 200 Banks is available online at
the U.S. Bankers magazine website at www.americanbanker.com/usb_issues.
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